Stephen Niles Email and Phone Number

PRACTICE AREAS:Multifamily Housing, Affordable Housing and Community Development, Section 8 Rental Assistance, HUD/FHA Financing, HUD Regulatory Approvals and HUD Enforcement. SAMPLE TRANSACTIONS:• Represented for-profit and nonprofit clients in the acquisition, disposition, rehabilitation and recapitalization of multifamily projects and healthcare facilities. Also represented owners, developers, investors and others in the transfer of various ownership interests (lower-tier, mid-tier, and upper-tier) in affordable housing projects• Advised clients on various regulatory issues relating to HUD's project-based voucher (PBV) and housing choice voucher (HCV) Section 8 programs, including contract rent adjustments, contract renewal options, contract terminations, contract restructurings, contract assignments, transfers of budget authority and conversion of HCV assistance to PBV assistance• Negotiated loan workouts of HUD-insured loans that allowed project owners/investors to stabilize their properties for the long term and avoid foreclosure, recapture of tax credits and potential enforcement action by HUD or the Department of Justice (DOJ)